Wang Jianlin, it’s sold!
China Fund Journal, Taylor
Hello everyone, 2023 is coming to an end! Just look at some news, and we’ll go on vacation.
Wang Jianlin continues to sell Wanda Plaza
In just a few days, Wang Jianlin sold three Wanda plazas!
On December 29, Guangzhou Luogang Wanda Plaza Co., Ltd. had an equity change, and Dalian Wanda Commercial Management Group joint stock company withdrew from the company’s shareholders, 100% owned by Suzhou Lianshang Sihao Commercial Management Co., Ltd., the latter controlling shareholder is Zhonglian Qianyuan Real Estate Fund.
On December 25 and 26, Dalian Wanda Commercial Management withdrew from the list of shareholders of Taicang Wanda Plaza Investment Co., Ltd. and Huzhou Wanda Investment Co., Ltd. The two companies added Suzhou Lianshang No. 3 Commercial Management Co., Ltd. and Suzhou Lianshang Wuhao Commercial Management Co., Ltd. as full shareholders respectively.
The official website shows that Zhonglian Fund focuses on the real estate financial business with REITs as the core, with real estate securitization as the entry point and extending to both ends, forming three business lines of real estate investment incubation, real estate securitization investment banking, and securitization product investment, and laying out the whole business chain of real estate with various themes.
Under Wang Jianlin’s previous plan, Wanda Group would sell some of its Wanda plazas nationwide in exchange for liquidity.
On December 12, Wanda’s gambling crisis was lifted. PAG and Dalian Wanda Commercial Management Group jointly announced the signing of a new investment agreement. PAG will work with other investors to reinvest in Zhuhai Wanda Commercial Management after its investment redemption period expires in 2021 and is redeemed by Dalian Wanda Commercial Management Group. Existing investors invested about 38 billion RMB in Zhuhai Wanda Commercial Management in August 2021, of which PAG’s investment is about 2.80 billion US dollars (about 18 billion RMB). Existing investors enjoy redemption rights in the original investment arrangement.
According to the new agreement, Dalian Wanda Commercial Management holds 40% of the shares, making it the single largest shareholder. Several existing and new investors such as Pacific Alliance will participate in the investment, with a total stake of 60%. Wanda will work with Pacific Alliance and other important shareholders to further optimize the corporate governance of the company, maintain the stability of the management team, and jointly support the long-term development of the company.
The market believes that the signing of the new agreement may mean that Wanda’s huge share repurchase crisis has been temporarily lifted. However, comparing the equity data, it will be found that the shareholding ratio of Dalian Wanda Commercial Management Group in Zhuhai Wanda Commercial Management has dropped significantly, and it has "lost weight" a lot.
The Shanghai Stock Exchange has notified Industrial Bank of abnormal stock trading
On the evening of December 29, the Shanghai Stock Exchange issued a notice on the abnormal trading situation of the closing auction of Industrial Bank shares on December 29, 2023.
The notice shows that during the closing auction stage on December 29, 2023, the stock price of Industrial Bank fluctuated sharply. After preliminary verification, it was caused by an investor declaring a large transaction at a price that obviously deviated from the latest transaction price of the stock. The Shanghai Stock Exchange will conduct further in-depth verification of the relevant situation and take corresponding measures according to the verification results.
Original title: "Wang Jianlin, sold!"
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